New Delhi: The union cabinet on Wednesday approved the launch of 'Housing for All by 2022' programme, aimed at rehabilitation of slum dwellers and promotion of affordable housing for the economically weaker sections (EWS) through credit-linked subsidy.

The proposed amendment to the Land Acquisition Act is crucial for creating two crore affordable houses in urban areas by 2022 under the government’s new ‘Housing for All’ mission, Union Minister for Housing & Urban Poverty Alleviation M Venkaiah Naidu said.

NDA government’s proposed ‘Housing For All’ mission will pave way for private developers to leverage public land in order to redevelop slums in-situ. The proposed policy of using land as a resource will signal a major shift from the UPA government’s state-funded slum rehabilitation scheme Rajiv Awas Yojana.

NEW DELHI: The pensions regulator has opened the doors of long-term retirement funds to the real estate sector, allowing the pension funds to invest up to 5% of their corpus in regulated real estate investment trusts.

In a bid to arrest hoarding of residential flats by developers and increase supply across the country, the income-tax department has decided to tax realtors on estimated annual rentals.
The tax could be anywhere between 15% and 20%. The move is as per the central action plan for 2015-16, under which the I-T department can levy tax on any unsold flat by treating it as 'income from house property' under Section 43-CA of the I-T Act, 1961.

The IT and ITeS companies’ capacity expansion plans, the country’s office space market seems to be regaining lost steam. With a major chunk of total absorption of Grade A office space being notched up by the technology sector, in the January-March quarter, commercial realty market is getting ready to make the most of it.

NEW DELHI: The Reserve Bank's decision to cut key interest rates is likely to reduce borrowing cost for both home buyers as well as developers leading to increase in housing demand, realty firms and consultants said today.

MUMBAI: The Reserve Bank Of India (RBI) cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to give more support to an economy that many economists doubt is doing as well as latest impressive growth numbers suggest.